Real Estate

Columbus, Ohio -- Big Lots reported Wednesday that net income for the fourth quarter rose to $120.3 million, from $114.7 million in the year-ago period. Sales in the U.S. increased 4.4% to $1.7 billion from $1.6 billion, and domestic same-store sales dipped 3.5%.

For the full year, income from continuing operations dropped to $177.2 million, from $207.2 million in the prior fiscal year. This year’s results included $3.4 million in charges related to new inventory system implementation.

New York -- Walmart will open as many as 115 small-format stores this year, according to Bill Simon, president and CEO of Walmart U.S.  

Simon discussed the chain’s store portfolio during a presentation at Raymond James Institutional Investors conference. He noted that Walmart’s smaller-format stores (below 60,000 sq. ft.) are making inroads against dollar stores, supermarkets and drug stores and will play a key role in the company's future.  

I have to admit, the recent announcement of the merger between Office Depot and OfficeMax took me by surprise. It’s not as though it doesn’t make sense — it’s logical both logistically and financially — but, while there had been a few rumblings and rumors, this is a dramatic move that took place with relatively little forewarning.

New York -- Fashion Outlets of Chicago, a new mall due to open in August near O'Hare International Airport, on Tuesday announced its tenant list.

The two-level, 530,000-sq.-ft. center will be anchored by a Bloomingdale's outlet, Last Call by Neiman Marcus, Saks Fifth Avenue Off 5th and Forever 21.

Boston -- City Sports today announced plans for two new stores, including its largest store to date, in New York City’s financial district. Slated to open at the end of March, the bi-level, 10,500-sq.-ft. space will feature an open floor plan and many other details that nod to the building's origins as a bank. The store will be City Sports' third location in NYC.

In addition, the chain announced a new location for its Chestnut Hill, Mass., store, set for a March 16 opening to coincide with the brand's 30th anniversary.

San Francisco -- LandMark Retail Group said it has opened three CVS/pharmacy stores in San Francisco on behalf of the drugstore retailer.  

Over the past year, the firm has completed 13 CVS stores throughout California with plans to open four more this year.

The first CVS/pharmacy store is located at 351 California St., occupying a ground-level retail space in a San Francisco financial district office building. It features 9,009 sq. ft., and opened after five months of construction.
 

Milwaukee -- NAI MLG Commercial announced that Tim Janusz and Brett Garceau have been promoted to VP.

Janusz specializes in office landlord and tenant representation, and Garceau specializes in the lease and sale of industrial properties.

Fort Worth, Texas -- Trademark Property announced that it has unveiled a new logo, corporate office and website as part of its 20-year anniversary.

On Feb. 4, the company moved into a new corporate office located in the River Plaza office building, part of Trademark’s WestBend mixed-use development in Fort Worth.  In addition, a new, more digital- friendly logo is being introduced along with new website to better reflect Trademark’s ever-changing and dynamic business.